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A short video from a White House dinner featuring Apple CEO Tim Cook has gone viral, not for the guest list or setting, but for Cook’s repeated expressions of gratitude.

The dinner, hosted by US President Donald Trump, brought together technology leaders to discuss investment and innovation.

During the event, Trump praised Cook for his leadership at Apple, calling it “an incredible job with the little company called Apple.”

Cook responded with a polite acknowledgement.

Over the next two minutes, however, he went on to say “thank you” at least eight times, a pattern that quickly drew attention online.

Cook’s viral moment

The video circulated widely on social media platforms, where users noted the frequency of Cook’s responses.

Some described the repetition as unusual, while others viewed it as a diplomatic effort in a high-profile political setting.

Edited clips highlighting the rapid succession of acknowledgements added to the lighthearted nature of the online commentary.

Cook’s comments during the dinner consistently centred on gratitude.

He thanked Trump for the invitation, acknowledged the role of both the president and the First Lady in creating what he described as a supportive environment for investment, and credited the administration for backing American companies abroad.

He also praised the First Lady’s focus on education, calling it “the great equaliser.”

Apple’s US Investment

The conversation eventually turned to Apple’s financial commitments in the United States.

Trump asked Cook about the scale of planned investments, to which the Apple CEO responded, “$600 billion.”

Trump followed up with his own “thank you,” prompting another round of Cook’s acknowledgements.

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Nvidia stock (NASDAQ: NVDA) has been bouncing around lately as investors try to figure out what’s next for the AI chip king.

But Broadcom’s monster earnings report on Thursday might be exactly what Nvidia bulls needed to hear as solid proof that the AI infrastructure buildout is far from over and demand for specialized chips is still going strong.

Broadcom’s earnings: A powerful signal for the AI chip industry

Broadcom crushed their third-quarter numbers, posting $16 billion in revenue, a 22% jump from last year that beat analyst expectations handily.

Their adjusted EBITDA climbed 30% to $10.7 billion, showing they’re not just growing but doing it profitably.

The real standout was their AI semiconductor division, which saw revenue surge 63% year-over-year to $5.2 billion.

CEO Hock Tan wasn’t shy about the outlook either, predicting AI-related sales will hit $6.2 billion next quarter.

That would mark eleven straight quarters of growth in their AI business, driven by customers who can’t seem to get enough custom AI accelerators.

The company has locked up over $10 billion in orders for AI rigs based on their XPUs, which gives them serious visibility into future demand.

What makes this particularly relevant for Nvidia stock is that Broadcom’s success validates the entire AI infrastructure story.

When a major chip company reports a $110 billion order backlog and $7 billion in free cash flow, it signals that tech giants and cloud providers are still spending heavily on AI hardware.

Since Nvidia dominates the GPU side of this market, Broadcom’s momentum should translate into continued strength for Nvidia’s core business.

The infrastructure software segment also grew 17% year-over-year, helped by VMware’s cloud offerings that support AI workloads.

While Broadcom’s traditional semiconductor business is still recovering slowly, the AI boom is more than making up for any weakness elsewhere.

Nvidia stock: Why analysts are optimistic

Analysts are viewing Broadcom’s results as confirmation that the AI chip cycle has real legs.

The analysts pointed out that Broadcom’s numbers show insatiable demand for AI hardware across hyperscale data centers, which directly benefits Nvidia as the leading GPU supplier.

The thinking is that Nvidia stock should see renewed investor interest as these trends become clearer.

But there are still reasons for caution. Nvidia’s valuation remains pretty stretched, even after recent volatility, and the company faces headwinds from potential interest rate moves, supply chain issues, and increasing competition.

Companies like AMD and Intel are trying to chip away at Nvidia’s dominance, while newer players are developing specialized AI chips that could eventually challenge Nvidia’s market position.

The broader question is whether Nvidia can convert its current AI leadership into sustained profitability and market share gains.

Broadcom’s results suggest the opportunity is definitely there, but execution will be key. Nvidia needs to keep innovating while managing the operational challenges that come with explosive growth in a rapidly evolving market.

For now, Broadcom’s blockbuster quarter provides a helpful data point suggesting the AI infrastructure buildout is real and sustainable, which should benefit Nvidia’s business over the coming quarters.

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Just over a year ago, Matthew Thomas Crooks nearly blew off President Trump’s head at a rally in Butler, Pennsylvania. Only by the grace of God did Crooks’ bullets miss their target by millimeters because President Trump had turned his head ever so slightly to look at an immigration chart. Crooks did manage to murder a rallygoer and seriously wound two others before the Secret Service killed him. Just under a year ago, Ryan Wesley Routh took his shot at President Trump, establishing a sniper’s nest at the Doral golf course where he knew the president would play later that day. Routh was a hole ahead of Trump when Secret Service agents spotted him. A gun battle followed, and Routh escaped, yet he was captured 50 miles away. He now sits in jail awaiting trial before Aileen Cannon, a superb federal judge.

While Cannon epitomizes the gold standard of the federal judiciary, Obama-appointed D.C. Chief District Judge Jeb Boasberg represents the garbage standard. Throughout the January 6 saga, Boasberg had no problem keeping defendants—even nonviolent ones—locked up before their trials, in part based on social media posts. He let off disgraced former FBI lawyer Kevin Clinesmith with probation after Clinesmith had altered an email to secure a surveillance warrant against former Trump campaign official Carter Page. Boasberg claimed that Clinesmith would receive punishment from the disciplinary authorities (the D.C. Bar) in the form of possible disbarment; yet, Clinesmith kept his license. Then, Boasberg made clear early in the second Trump administration that he was itching for a fight, expressing his baseless concern to Chief Justice John Roberts that President Trump and his subordinates would violate court orders.

This March, Boasberg instigated the fight he had longed for when he illegally ordered planes full of Tren de Aragua terrorists and vicious MS-13 gang members to turn around after they had departed for Honduras and El Salvador. This was an ongoing military operation. The planes would have been in danger trying to fly back over the Gulf of America with minimal fuel. Additionally, there were not the appropriate security resources in place in the United States to deal with the return of hundreds of foreign terrorists and violent gang members, unlike the situation in El Salvador and Honduras where the proper resources were in place. The planes did not turn around, and Boasberg ‘found’ probable cause to hold administration officials in contempt. A D.C. Circuit panel reversed; yet, Boasberg, undaunted by the smackdown he had received, mused at a hearing about disciplinary proceedings against Trump Justice Department lawyers before the jurisdictions in which they hold law licenses.

This past week, Boasberg has outdone himself. Nathalie Rose Jones is a nutcase from Indiana who is staying in New York City. She thinks that President Trump is a Nazi and a terrorist, and she blames him for the deaths caused by the coronavirus. Earlier this month, Jones posted on Facebook that ‘I am willing to sacrificially kill this POTUS by disemboweling him and cutting out his trachea with [former] U.S. Representative] Liz Cheney and all the affirmation present.’ Jones then told the Secret Service that she would kill President Trump at ‘the compound’ (presumably the White House) if she had to and that she had a bladed object to accomplish her ghastly goal. The next day, law enforcement arrested Jones at a protest that had begun at Dupont Circle and wound up near the White House.

A magistrate judge correctly ordered Jones detained without bail. It is hard to imagine a clearer case of someone who poses a danger, but Jones found an ally: Boasberg. He decided to send Jones back to New York with an ankle bracelet, and he ordered her to see a shrink. Boasberg found the case hard because Jones had not brought a gun. Never mind that Jones had referred to a bladed object that she had somewhere ready to kill President Trump. Never mind that guns are easy to procure, even for convicted felons who are prohibited from possessing them by federal law. Never mind that Jones could have returned to the White House at any time after the day that she showed up without a gun. Francisco Martin Duran, a former Army sergeant, gave no warnings before he showed up at the White House early in President Clinton’s first term and fired off dozens of shots outside the gate. These maniacs often strike without warning, as Crooks and Routh also did. Jones has telegraphed what she wants to do to President Trump, and still it is not enough for Boasberg.

Boasberg has established a pattern of utterly horrific judgment. After his illegal order in March, Congressman Brandon Gill of Texas filed an article of impeachment. It is time to move forward with that article—and add to it based on the Jones farce, as well as the revelation of Boasberg’s grossly improper comments to Chief Justice Roberts. President Trump is only alive thanks to divine intervention; a millimeter and a millisecond could have changed the course of history.

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Reckless robed partisans like Boasberg, however, do not appear to care about the danger the president faces.

Trump-deranged judge refuse to accept that he won the election, and they have put up roadblock after roadblock in an appalling effort to overturn the will of American voters. The disgrace of the Jones case is just the latest example. The time has come for the House to exercise its core Article I power and use a legal tool to curtail these judges: impeachment.

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President Donald Trump wrapped up the week Friday signing an executive order to change the name of the Department of Defense to the Department of War. 

The executive order gives the green light to use the name ‘Department of War’ as a secondary title for the Department of Defense, along with terms like ‘secretary of war’ for Secretary of Defense Pete Hegseth, according to a White House fact sheet.

The order also calls for Hegseth to propose both legislative and executive actions to permanently cement the title as the U.S. Department of War.

Additionally, a White House official told Fox News Digital that implementing the order would mean making alterations to public-facing websites and office signage at the Pentagon. For example, one change on the horizon is renaming the public affairs briefing room the ‘Pentagon War Annex,’ the official said, noting other longer-term projects also will emerge. 

The U.S. previously used the Department of War title for its military agency until 1949, but modified it to the Department of Defense to align with multiple reforms included in the National Security Act of 1947.

Trump signaled in late August the change might happen. 

‘Everybody likes that we had an unbelievable history of victory when it was Department of War,’ Trump told reporters Aug. 25. ‘Then we changed it to Department of Defense.’

Here’s what also happened this week:

War on cartels

Trump also announced that the U.S. military strike against an alleged drug-laden Venezuelan boat in the southern Caribbean killed 11 suspected Tren de Aragua narco-terrorists Tuesday. 

Trump shared a video on social media Tuesday depicting the strike against the Venezuelan vessel, just days after he authorized sending three U.S. Navy guided missile destroyers to enhance the administration’s counternarcotics efforts in the region.

‘You had massive amounts of drugs,’ Trump told reporters Wednesday about the recent strike. ‘We have tapes of them speaking. It was massive amounts of drugs coming into our country to kill a lot of people. And everybody fully understands that fact. You see it, you see the bags of drugs all over the boat and they were hit.’

‘Obviously, they won’t be doing it again. And I think a lot of other people won’t be doing it again. When they watch that tape, they’re going to say, ‘Let’s not do this.’ We have to protect our country, and we’re going to. Venezuela has been a very bad actor.’

After the deployment of the destroyers, Maduro said Venezuela was ready to respond to any attacks and said the ship’s presence in the region was ‘an extravagant, unjustifiable, immoral and absolutely criminal and bloody threat.’

‘In the face of this maximum military pressure, we have declared maximum preparedness for the defense of Venezuela,’ Maduro said during a Monday press conference. 

Meanwhile, the Pentagon confirmed Thursday that two Venezuelan aircraft buzzed a U.S. Navy vessel in international waters. 

‘This highly provocative move was designed to interfere with our counter narco-terror operations,’ the Defense Department wrote in a statement posted to X. ‘The cartel running Venezuela is strongly advised not to pursue any further effort to obstruct, deter or interfere with counter-narcotics and counter-terror operations carried out by the U.S. military.’

Space Command HQ move 

Trump also unveiled plans Tuesday to move Space Command’s headquarters from Colorado to Alabama — putting an end to the controversy about where the command would be based. 

Space Command has been operating out of Peterson Space Force Base in Colorado Springs, Colorado, but Trump long has backed moving the command’s headquarters to Huntsville, Alabama. But in 2023, former President Joe Biden announced that the command would remain based in Colorado. 

‘The U.S. Space Command headquarters will move to the beautiful locale of a place called Huntsville, Alabama, forever to be known from this point forward as Rocket City,’ Trump told reporters Tuesday.

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Top Biden administration officials questioned and criticized the way the former president’s team handled pardons and made use of an autopen in the waning days of his White House term, a report said, citing internal emails.

A person familiar with the clemency process told Axios that after President Joe Biden pardoned his son Hunter on Dec. 1, 2024, ‘There was a mad dash to find groups of people that he could then pardon — and then they largely didn’t run it by the Justice Department to vet them.’ 

The news agency reported Saturday that several senior Justice Department officials raised concerns with the White House Counsel’s office regarding the process to pardon individuals.

Three days before Biden left office, the president announced that he was ‘commuting the sentences of nearly 2,500 people convicted of non-violent drug offenses who are serving disproportionately long sentences compared to the sentences they would receive today under current law, policy, and practice.’ 

‘With this action, I have now issued more individual pardons and commutations than any president in U.S. history,’ Biden said in a statement on Jan. 17. 

However, Axios reported that the following day, senior Justice Department ethics attorney Bradley Weinsheimer argued in a memo that describing those who were pardoned as nonviolent was ‘untrue, or at least misleading.’ 

‘Unfortunately and despite repeated requests and warnings, we were not afforded a reasonable opportunity to vet and provide input on those you were considering,’ Weinsheimer wrote, according to Axios. 

The news agency said Weinsheimer mentioned a man who pleaded guilty to murder-related charges. 

Weinsheimer described how the Justice Department labeled the man as ‘problematic,’ yet Biden commuted his sentence, Axios reported. 

‘I have no idea if the president was aware of these backgrounds when making clemency decisions,’ Weinsheimer reportedly added. 

Ed Siskel, the former head of the White House Counsel’s office, and representatives for Biden did not immediately respond Saturday to requests for comment from Fox News Digital.

Senior Biden White House officials also pushed back internally on requests to use the autopen, according to Axios, which cited emails it obtained. 

It said Biden White House staff secretary Stef Feldman repeatedly asked for more information and confirmation of Biden’s intentions with the autopen. 

‘When did we get [Biden’s] approval of this?’ Feldman reportedly wrote in a Jan. 7 email regarding the use of autopen to sign an executive order. 

‘I’m going to need email from… original chain confirming [Biden] signs off on the specific documents when they are ready,’ she was cited by Axios as writing in a Jan. 16 email about using autopen to commute cases linked to crack-cocaine sentences. 

The developments come as President Donald Trump has ordered an investigation into Biden’s administration, alleging that top officials used autopen signatures to cover up the former president’s cognitive decline. 

‘I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn’t is ridiculous and false,’ Biden said in a statement in June.  

‘This is nothing more than a distraction by Donald Trump and Congressional Republicans who are working to push disastrous legislation that would cut essential programs like Medicaid and raise costs on American families, all to pay for tax breaks for the ultra-wealthy and big corporations,’ he added at the time. 

Fox News Digital’s Anders Hagstrom contributed to this report. 

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In 1947, the United States War Department became the Department of Defense, as our nation was entering what would be four decades of Cold War with the Soviet Union, and taking its place as a global superpower.

On Friday, President Donald Trump signed an executive order bringing the original name back to the department created by George Washington in 1789. It brings with it a change that would have earned the hearty approval of our first president.

In the 78 years in which the United States has had a ‘Department of Defense,’ we never declared war a single time, but that didn’t stop thousands upon thousands of American soldiers from sacrificing their lives in Korea, Vietnam, and later, the Middle East.

During this time, the United States widely became known as the world’s policeman. Without actually declaring wars, we played a violent game of Twister across the globe, our Defense Department dipping its toes into conflicts across continents.

Too often, the role of our soldiers was not to kill the enemy, but to maintain order, and just as a police force is restrained from using total force against criminals, our military was too often simply not allowed to bring its full force to bear.

There is a fundamental and important difference between war and policing. Wars can be won, policing cannot. Policing is a never-ending struggle, and that is exactly what America’s military interventions felt like under the reign of the Department of Defense.

‘I want offense too,’ Trump has quipped about the name change. But what he really means is that he wants wars we can win, not endless nation-building boondoggles meant to maintain balance in a world full of conflagrations from Ukraine to Gaza.

Secretary of War, as he is now known, Pete Hegseth has made clear his priority is lethality, not just being a stick for diplomats to use. He wants an army, not a police force.

It was Carl von Clausewitz, the early 19th Century father of modern war, who defined military victory as compelling the enemy to do your will by destroying their desire and means to resist. That is something our military has not done in some time.

But that may be changing.

It was no accident that this cabinet-level name change occurred in the wake of the Trump administration blowing an alleged speedboat full of drugs and drug smugglers from Venezuela to smithereens.

Under the old rubric, that boat might have been stopped, its crew given Miranda rights. In other words, it would have been policed.

But does this mere police work actually work, per Clausewitz, to destroy the Venezuelan gangs’ and government’s will and means to flood our country with deadly drugs? It does not, it just maintains the status quo from the border to the graveyard.

But now, the next guys in line to jump aboard a drug-laden boat headed for Florida aren’t looking at possible jail time, in facilities all but run by their gangs. No, they are looking at a quick exit to eternity under the sea.

Likewise, Trump’s direct attack on Iran’s nuclear facilities sent a new message to the Ayatollah that if he goes too far, we will destroy him and his nation.

The Department of Defense, may it rest in peace, was a noble idea. It was launched in the spirit of ending war, not winning wars. It was meant to prop up democracies around the planet until all nations found the right and just path of freedom and capitalism.

It may have been worth a shot, but it just didn’t work, and that is why the Trump administration is returning to the original premise, that armies don’t exist to protect and serve the world, they exist to kill our enemies.

Not long after President Washington established the War Department, he would give a farewell address in which warned against engaging in foreign entanglements, and yet under the name Department of Defense, our military seemed to do little else.

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President Trump is sending the message that the United States will no longer be defending itself through proportional half measures and never-ending peace missions. No, from here on out, the Department of War does not exist to contain or constrain our enemies, it exists, as it should, to destroy them.

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Vice President JD Vance stopped short of confirming a 2028 White House run during an appearance on My View with Lara Trump Saturday night, but he acknowledged the possibility—noting if he does his job well, ‘the politics will figure itself out.’

Vance, whose resilience amid an upbringing marked with family turmoil and economic hardship won over the nation, said he ‘doesn’t like thinking about’ a potential presidential bid and insisted his attention remains on his current role.

‘If we do a good job in 2025 and 2026, then we can talk about the politics in 2027,’ Vance said. ‘I really think the American people are so fed up with folks who are already running for the next job, seven months into the current one.’

The second-in-command added if he ends up running, he knows he will have to work for it.

‘There are a lot of great people,’ Vance said. ‘If I do end up running, it’s not going to be given to me—either on the Republican side or on the national side. I’m just going to keep on working hard. … [This] may be the most important job I ever had, outside of being a father to those three beautiful kids. So I’m going to try to do my best job, and I think if I do that, the politics will figure itself out.’

When asked specifically about potential 2028 Democratic candidates, he noted most of them ‘obviously have very bad records.’

Vance mainly focused on discussing his own ticket, praising President Donald Trump’s relentless work ethic and trusting leadership style and explaining the president ‘doesn’t have an off switch.’

‘Sometimes, the president will call you at 12:30 or 2 a.m., and then call you at 6 a.m. about a totally different topic,’ Vance said. ‘It’s like, ‘Mr. president, did you go to sleep last night.’ … What’s made this so much fun is the president, all the time, just saying, ‘JD you go and do this,’ or ‘JD you go and talk to these leaders about this particular issue.’ That ability to delegate and trust his people has been really amazing.’

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The deadly U.S. strike in the Caribbean this week is being cast by experts as the latest move in a broader campaign to dismantle Iran and Hezbollah’s growing narco empire in Venezuela.

U.S. officials say Tren de Aragua works closely with the Cartel of the Suns — a network of Venezuelan military elites long accused of moving cocaine in collaboration with Hezbollah.

White House spokesperson Anna Kelly told Fox News Digital that ‘President Trump has taken numerous actions to curtail Iran’s terrorist proxies like Hezbollah, such as sanctioning senior officials and financial facilitators. The President has proven that he will hold any terrorist group accountable that threatens the national security of our country by smuggling narcotics intended to kill Americans.’

Brian Townsend, a retired DEA special agent, told Fox News Digital, ‘This was a decisive blow against narco-terrorists,’ and said Hezbollah’s role is rarely visible but essential, ‘They don’t get their hands dirty. Instead, they launder and provide networks to help cartels send money through the Middle East. Simply, they take a cut from the drug trade, which then funds their operations in the Middle East.’

Townsend added that Hezbollah has become ‘a main finance and money launderer for narco-terrorism groups like Tren de Aragua,’ ensuring that when cocaine moves, Hezbollah-linked facilitators are often processing at least part of the proceeds.

Dani Citrinowicz, a senior fellow at Israel’s Institute for National Security Studies, said Hezbollah’s reach depends heavily on the region’s Lebanese diaspora. ‘Most of the Shia diaspora, at least in Central and South America, is Lebanese,’ he told Fox News Digital. ‘Hezbollah is the connector between the diaspora and Iran.’

Citrinowicz said the group uses family ties, language and community institutions to cement its influence across Latin America. ‘They appoint imams, fund religious centers and control educational programs … through these networks, Hezbollah can interact with local cartels, sell drugs, and channel the profits back to Lebanon through elaborate schemes.’

He said this role as a connector makes Hezbollah indispensable to Iran’s strategy in the Western Hemisphere. ‘The connection starts and ends with enmity towards the West in general, specifically to the United States,’ he said. ‘As long as Maduro is there, the Iranians will be there. But if Maduro goes, Iran will lose the most important stronghold of its activity in Latin America.’

Townsend stated the partnership works for both sides. ‘Iran’s partnership with Maduro enables Hezbollah to operate in Venezuela. Iran gets to safely operate, through Hezbollah, in the West without prosecution, and Maduro and his officials get paid well. Ultimately, Iran uses and exploits Maduro. Maduro doesn’t care — he and his friends benefit financially.’

Both experts pointed to state complicity as the key enabler. ‘Under Maduro and Chávez, Venezuela has become a major transshipment hub for Colombian cocaine,’ Townsend said. ‘There have been several indictments in the U.S. and Treasury OFAC designations that tie senior government officials directly to the use of state infrastructure — ports, air bases, even military convoys — to move massive shipments of cocaine. Cartel of the Suns, high-ranking military officers, run and protects these shipments. Who launders all of this drug money? Hezbollah.’

Citrinowicz emphasized Iran’s investment in Venezuelan power structures. ‘The enhancement is illustrated by several aspects: first and foremost, the military cooperation, especially Iranian factories building UAVs for the Venezuelan army, and constant Quds Force flights from Iran through Africa toward Venezuela,’ he said. ‘Iran is also teaching Venezuela how to bypass sanctions and has invested billions into the economy.’

Experts say Washington’s best leverage lies in choking the finances. ‘We need to aggressively target and choke these financial networks,’ Townsend said. ‘The priority is to attack the financial and logistical networks, indict everyone we can and pressure Maduro. If we can cut off the financial arteries, the cocaine won’t be as profitable.’

Citrinowicz agreed that the strike fits into a broader effort. ‘By weakening Maduro, the U.S. weakens the Iranian presence in Latin America and weakens Iran’s ability to threaten U.S. soil,’ he said. ‘The best way to weaken Venezuela is also to aim against the Iranian presence over there.’

For Washington, experts say Hezbollah’s narcotics empire in Venezuela is no longer just a regional problem. It is increasingly being treated as a direct threat to America’s security at home.

 

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Gold price continued its relentless bull run and is now hovering at its highest level on record. It jumped to a high of $3,586, continuing a trend that has been going on for months. This article highlights some of the top reasons why gold price is in a bull run.

Gold ETF inflows are soaring

The first main reason why gold price is in a strong surge is that investors are still boosting their investments. One way to look at this is ETF inflows, which have continued rising in the past few months.

Data shows that the closely-watched SPDR Gold ETF (SPY) added over $451 million in assets last week after it added $2.3 billion a week earlier. 

It has added over $11 billion in assets this year, pushing its assets to over $115 billion. The same trend is happening across other gold ETFs and mutual funds.

China central bank buying

The other major catalyst for the gold price is that China’s central bank has continued its buying spree as it continues to diversify from US dollars. It has now bought gold in the last ten consecutive months.

The PBOC bought 0.06 million troy ounces in August, bringing its total holdings to over 74 million. It has now bought 1.2 million ounces worth over $4 billion in the same period. Other central banks, like those in India and Russia, have also been buying gold.

Potential Federal Reserve cuts

Gold price is soaring as investors position themselves for the start of interest cuts. Odds of interest rate cuts have jumped after the US published weak economic numbers. A report on Friday showed that the economy created just 22,000 jobs in August as the unemployment rate rose slightly to 4.3%. 

The main risk for the interest rate cuts is that the economy is in stagflation as inflation rises. Data scheduled for this week is expected to show that the headline consumer price index (CPI) rose to 2.9% and the core CPI moved to 3.3%. 

As such, cutting interest rates during a stagflation risks pushing the economy to a high inflationary period. Gold price benefits in such periods because it is one of the most common safe-haven assets.

Federal Reserve independence

Gold price is also seeing substantial traction among investors because of the threat to Federal Reserve independence. Donald Trump has continued to call for Jerome Powell to cut interest rates this year. 

Most recently, he fired Lisa Cook, a Fed governor citing her mortgage application. Trump hopes that firing her will give him a chance to add another Fed governor to the bank. 

He may also use her firing to test the legal issue of replacing Jerome Powell, who he has contemplated firing in the past. 

Trade war and geopolitics

Gold price has soared because of the ongoing trade war between the United States and other countries. This trade war is reshaping geoplitics, with China and India deepening their ties.

Gold is often seen is a safe haven asset, meaning that it does well when there are risks in the economy. Therefore, these reasons mean that gold price will continue doing well in the coming months as these issues persist.

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The USD/TRY exchange rate jumped to a record high last week after Turkey published weak consumer inflation data. It was trading at 41.25, much higher than the January open of 35. This article explains what to expect ahead of the CBRT decision that could impact the carry trade opportunity.

CBRT interest rate decision

The USD/TRY exchange rate continued its strong rally after a report showed that Turkish inflation continued falling in August. A report by the statistics agency showed that the headline consumer price index (CPI) slowed to 33% year-on-year from 33.5% in the previous month.

Turkey’s inflation has been in a downtrend in all months since June 2024, when it jumped to 75%. The ongoing inflation slowdown happened even as the central bank continued cutting interest rates. 

Economists now expect a big interest rate cut when the bank meet on Thursday this week. The average estimate is that the bank will cut rates by 200 basis points, moving them from the current 43% to 41%. 

The overnight borrowing and lending rates at expected to drop to 40% and 44%, respectively. 

These numbers come as the central bank hopes that inflation will continue falling, especially because of the falling oil prices. It also hopes that the cuts will supercharge the economy, which analysts expect will grow by 3.1%.

US inflation data and Fed cuts

The other important catalyst for the USD/TRY will be the upcoming US inflation data, which will come out on Thursday.

Economists polled by Reuters expect the numbers to show that the headline consumer inflation rose to 2.9% in August from 2.7% in the previous month. Some analysts expect the figure to cross the 3% milestone soon. 

This inflation report will provide more information on the state of the American economy and what to expect. However, after the recent US job numbers, economists expect that the Fed will cut interest rates in its coming meeting.

Read more: Why the US job market may actually crumble soon

If this is correct, it means that the central bank will bring the headline consumer inflation figure between 4.00% and 4.25%. 

The implication is that it will lower the spread between the US and Turkish interest rates. Historically, the USD/TRY pair has become one of the most common carry trade pairs. 

A carry trade is a situation where investors borrow from a country with a low interest rate and invest in one with a higher interest rate. In this case, they have been borrowing heavily in the US and invested in Turkish assets.

USD/TRY technical analysis

USD/TRY chart by TradingView

The daily chart shows that the USD/TRY exchange rate has been in a strong uptrend. It has moved from 33 in September last year to 41.25 today. 

The pair has remained above all moving averages, while its oscillators have moved upwards. Therefore, the pair will likely continue rising bulls target the key resistance point at 42.

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